The Know-Your-Customer (KYC) platform KEN enables financial institutions to efficiently submit and exchange KYC information. AdNovum has developed the solution in close cooperation with KYC Exchange Net AG.

KYC Exchange Net AG has launched a communication platform for the secure exchange of Know Your Customer (KYC) and Customer Due Diligence (CDD) information. With KEN, financial institutions can obtain KYC information from other financial institutions via a standardized questionnaire, which enables them to easily and efficiently comply with banking supervisory standards.

Standardized KYC questionnaire

The solution is based on a standardized online questionnaire. KEN offers upload of documents, versioned storage and viewing of documents, as well as downloading and forwarding of documents to other KEN users or involved parties.

KEN also supports management of relationships to other KEN customers. KEN customers who are related to another financial institution are automatically notified on modification of data or documents regarding the respective institutions. Staff of KEN customers can pass on KYC requests internally via a defined workflow based on a fine-grained role model and a delegation system that is easy to manage. A dashboard provides information on the status and percentage of completion of a request. Completed requests are archived to provide an optimized overview.

Implemented with Scrum

AdNovum specified and implemented KEN in a Scrum project in close cooperation with KYC Exchange Net AG. AdNovum also provided the infrastructure for the testing, staging and productive installations in their own data center. The comprehensive IT competence of AdNovum made it possible to bring KEN to market maturity within a very short time, a factor that was critical for the success of the project.

notification of related institutions on modification of data or documents

Workflow support

fine-grained role model for involved functions and departments

internal delegation/forwarding of KYC requests

Dashboard with status overview and percentage of completion of pending requests

Archiving of completed requests

Facts and Figures

Time to market: Project start in June 2013, go-live in December 2013

Number of users: By April 2014, KEN was already used by 30 financial institutions with 50 to 60 individual users, among them Standard Chartered Bank (SCB), Société Général, and the Bank of London and the Middle East (BLME)

Technology

Alfresco DMS

Nevis-based IAM solution with nevisProxy, nevisAuth, and nevisIDM

Browser: Internet Explorer 8 or higher, Firefox, Chrome, Safari

Interface optimized for Apple iPads and other tablets

SSL encryption

‹‹Our cooperation with AdNovum proved to be very satisfactory in many respects.››

MarcelKrist,Member of the Board and CEO KYC Exchange Net AG

‹‹Thanks to the development approach and the project experience of AdNovum's staff, we were able to bring KEN to the market in a very short time.››

Further information

When a company has a clever idea, it needs a reliable partner in order to realize it. This is demonstrated by the KYC platform KEN, which AdNovum helped develop to market readiness quickly. read on Well coordinated, swiftly launched